3-Month Treasury Bill Rate (Monthly)
3-month Treasury bill secondary market rate, discount basis, monthly average. The short leg of the 10y-3m spread before 1976, when no 2-year Treasury existed.
3.73
Percent
3-Month Treasury Bill Rate (Monthly) — latest reading: 3.73 percent. As of July 2026, it is down 12.2% over the past 12 months, above its 10-year average. Source: TB3MS, Federal Reserve Board, published monthly. Reported as published, without transformation; the publisher may revise it.
Min
0.01
Max
16.30
Average
3.42
10Y Percentile
69%
3M Change
+3.3%
3-Month Treasury Bill Rate (Monthly) (TB3MS) — 1111 observations from 1934-01-01 to 2026-07-01. Source: FRED, Federal Reserve Bank of St. Louis. Red shading indicates NBER recession periods.
Compare 3-Month Treasury Bill Rate (Monthly) with other indicators →
Revisions
None. Across the 12 most recent prints held in the vintage archive, 3-Month Treasury Bill Rate (Monthly) was published once each and never restated. Market series behave this way; survey and sample-based statistics generally do not. How this is computed.
Macro Regime Context
The financial-conditions regime is currently neutral (63% confidence).
See what this means across all four regime dimensions →3-Month
+3.3%
6-Month
+4.5%
12-Month
-12.2%
What this means
3-Month Treasury Bill Rate (Monthly) is currently at 3.73 percent, which is above its 10-year historical average. The trend is increasing (+3.3% over the past 3 months).
Over the past 6 months the change is +4.5%, and over 12 months it is -12.2%. The short-term pace is consistent with the longer trend.
Cite this page
MacroRadar, "3-Month Treasury Bill Rate (Monthly)," https://www.macroradar.io/3-month-treasury-bill-monthly (as of July 2026).